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Hedge Fund Backs Filmmaker, Raising Questions

By

Josh Barbanel and Steve Eder

Aug 28, 2012 6:06 pm ET

When a younger brother of once-highflying hedge-fund manager Alphonse Fletcher Jr. won a screenwriting Oscar in 2010 for the film “Precious,” he thanked his siblings, saying they “supported me in every way.”

Now a legal battle for control over hedge funds run by Fletcher Asset Management is showing the nature and extent of one sibling’s support.

After winning the Oscar, Geoffrey S. Fletcher made his debut as a director. When he needed a place to base operations for his first project, a quirky film about two teenage female assassins, Alphonse Fletcher Jr. stepped up. During a 10-week shoot in 2010, the production staff worked out of the Fletcher firm’s Wall Street offices.